Agritech startup raises $29 Mn at valuation of $325 Mn

Agritech startup has raised Rs 242.36 crore approximately ($29.2 million) from existing investors. This is the first round of investment for the Noida-based company since January 2022.

The board has passed a special resolution to issue 53,695 CCPS at an issue price of Rs 45,137 each to raise the aforementioned sum ($29.2 million), its regulatory filing accessed from the RoC shows.

The company has received Rs 134.46 crore from previous backers: Asia Impact and Quona Capital through Quona Blue Earth and Accion Quona. 

As per TheKredible estimates, the company has been valued at around Rs 2,700 crore or $325 million (post-allotment). The firm may raise more funds and the valuation will vary accordingly. has raised around $110 million to date including $60 million in Series C round led by Asia Impact SA, Lightrock, and Quona Capital in 2022.

Inc42 reported the development first.

According to startup data intelligence platform TheKredible, Lightrock (formerly Aspada Investment) was the largest external shareholder with 17.89% as of Series C round followed by Lightrock Venture which held a 12.84% ownership in the company. is a grain commerce platform that connects agri producers (sellers) and buyers. It provides ancillary services including warehousing and debt to farmers through third-party lenders.

Unlike many companies of its age, posted profit during the fiscal ending March 2023. While the company’s gross scale grew 49.48% year-on-year to Rs 290 crore in FY23, its profit ballooned 11X to Rs 7.58 crore in the same period.

As per the company, its net revenue increased to Rs 360 crore in FY24 with a net profit of Rs 17 crore. The company is yet to file its audited annual report for the last fiscal year. competes with DeHaat, Ninjacart, and Bijak, among others. 

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